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Wednesday, November 07, 2012

Rebalance IWM (sell puts) "brilliant"

I
had the “brilliant” idea to rebalance my IWM position back to
delta positive by selling puts. I placed an order to sell IWM Dec 72 puts before the open and got filled shortly after the market open. Ouch.

The bad
news is some red ink on my positions, the good news is my huge cash
position. LGF also has been going down, so those positions are taking
on water as well.

I'd
like to say that the stock market reaction is over done, but the
other side of the argument is that the market is always right, don't
argue with it.

About Me

I now have two blogs, a piano blog
(link1)
and a stock market blog (link2).

Piano intro: I am a whistle and Irish flute player that started playing piano keyboard in March 2012. Mostly I compose and play my original tunes on my Casio PX-150 digital piano, which I bought in January 2013. I started in 2012 with a Yamaha NP11 keyboard.

Intro for trading blog: I am an individual investor posting a public trading diary. I am not here to give advice. I post my trades and thoughts for public consideration. Mostly it helps to keep myself straight. As of 2012, my favored trades are selling naked puts and strangles.